Jay Clayton, Senior Policy Advisor and Of Counsel to Sullivan & Cromwell and former Chairman of the Securities and Exchange Commission, appeared on CNBC’s “Squawk Box” to discuss press reports regarding a national security review of Elon Musk’s ownership stakes, including the pending acquisition of Twitter.
Jay noted that many regulatory considerations, including national security issues, exist in multinational transactions that involve technology, critical infrastructure, and personal data, but that regulatory issues had been largely assumed to be de-risked from the Twitter transaction at this point. Jay discussed national security reviews generally and noted that the jurisdiction of the Committee on Foreign Investment in the United States (CFIUS) has been expanded significantly over the past five years with regard to technology, personal data and the amount of foreign investment and influence that is necessary to trigger a CFIUS review.
Watch the conversation here.
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